Business setup in Umm Al Quwain is regarded for being a wonderful place for small- companies. Because the neighbourhood is always expanding, there is plenty of opportunity for new enterprises to establish themselves and thrive.
· 0% corporation and household income tax
· 100% management of the business
· A wide range of commercial operations are allowed.
· 100 percent income and profit repatriated
· There are no monetary limits.
The United Arab Emirates is a global hub for international trade and is also a major travel destination for foreigners.
The United Arab Emirates has a total of 22 local and 30 foreign banks which opens the door for potentially large amounts of money laundering and terrorist financing.
The UAE also has the five biggest banks in the region (accounting for about 60% of the sector’s assets) according to the Corporate Financial Institute.
New legislation in the UAE focuses on providing guidance that will help each bank to strengthen its AML compliance program.Free Trade Zones (FTZ’s) Corruption and Money Laundering in the UAE UAE has free trade zones (FTZ’s) in a number of areas across the country; FTZ’s are located throughout Dubai, Abu Dhabi, Sharjah, Fujairah, Ajman, Ras al-Khaimah and Umm al-Quwain.
Free Trade Zones are a source of economic vitality and growth for the country.
FTZ’s features 100% foreign ownership and zero taxes which attracts many foreign investors.